Trying to get a handle on the U.S. economy right now is not exactly easy. The stock markets keep setting new all-time highs, and GDP growth came in better than expected during the second quarter, Reuters reported.

But on the downside, hiring has slowed, inflation remains above the Federal Reserve’s target rate and many economists worry about the impact of tariffs on prices, spending and production.

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If you’re retired, navigating these different dynamics requires the right planning to ensure your nest egg doesn’t run out sooner than expected. Here are five wealth strategies for retirees in the current economic climate, according to financial planners and retirement experts.

With the stock market surging to record highs, it might be tempting to cash in and take profits now. But that would be a mistake, according to Nancy Gates, lead educator at Boldin, a financial planning platform that can help you strategize a retirement plan.

“It’s not advisable for retirees to completely sell off their equities, even if they are tempted to cash out,” Gates told GOBankingRates in an email. “A more effective strategy involves allocating a significant portion to growth investments to combat inflation, while simultaneously holding short-term safe assets like cash, short bonds, and [certificates of deposit] CDs to cover [two to five] years of expenses. This ‘bucketing’ approach helps retirees ride out downturns without panic selling.”

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No matter how old you are, you shouldn’t let current economic trends dominate your money management decisions. This is especially important for retirees, most of whom need their savings to last a long time.

“Whether you think the economy is going in the right direction or wrong, it shouldn’t impact how you manage your money,” said Steve Chen, Boldin’s founder.

No matter what the future holds, you want to adopt a mindset that balances your needs and resources today with the future. To do this, spend less than you earn, and save and invest consistently — no matter what is going on in the world.

With persistent inflation, you should not be wedded to “static” withdrawal rules such as the 4% rule, Gates said. She recommends adopting dynamic withdrawal strategies, including the following:

Guardrails method: This involves withdrawing money based on your portfolio performance.

Guyton-Klinger rules: This can get a little complicated in terms of the amount of money you should withdraw, and when. But it basically works similar to the guardrails approach because you set upper and lower limits based on your portfolio’s performance.

Ceiling-and-floor approach: This method essentially means you adjust your spending during market downturns.

Higher prices can cut into your wealth in a hurry if you don’t have income sources that protect against inflation. For example, Social Security recipients get an annual cost-of-living adjustment (COLA) that changes your monthly payment based on each year’s third-quarter inflation rate.

For a similar benefit, Gates recommends putting some of your money into Treasury Inflation Protected Securities (TIPS) ladders and annuities that offer COLAs.

“[These] can all help keep purchasing power stable,” she said. “Use these to cover essential expenses, while flexible withdrawals cover discretionary spending.”

As a retiree, it’s especially important to not get distracted by matters you have no control over, whether it’s inflation, tax changes or something else.

“Focusing on what [retirees] can control, like revisiting their spending plan and investment portfolio allocation, can give them back a sense of stability,” said Michael Pappis, head of support at Boldin. “It’s a good reminder that peace of mind often comes from managing the pieces of the financial puzzle within reach.”

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This article originally appeared on GOBankingRates.com: I’m a Financial Planner: 5 Wealth Strategies for Retirees in Today’s Economy